The long-awaited SPY correction is here

The SPY finally had its long-awaited correction with a 2.12 percent drop last Friday (see

In this graph, both the yolk and white are based on short and mid term support and resistance levels. I'm expecting the price to travel along the yolk, breaking out through A, and finally breaking through B. In both scenarios I'm expecting a sideways/bearish movement for the next days.

"Letting losses run is the most serious mistake made by most investors." - William O’Neil
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